Union Bankshares (NYSE:AUB) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Union Bankshares (NYSE:AUB) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

According to Zacks, “Atlantic Union Bankshares Corporation provides banking services to consumers and businesses. It offers checking accounts, lending, credit cards, online and mobile banking, and wealth and treasury management services. Atlantic Union Bankshares Corporation, formerly known as Union Bankshares Corporation, is based in Richmond, United States. “

Other research analysts have also issued reports about the company. Raymond James set a $40.00 target price on Union Bankshares and gave the stock a buy rating in a report on Friday, July 19th. Boenning Scattergood reiterated a hold rating on shares of Union Bankshares in a report on Friday, July 19th.

AUB stock opened at $35.09 on Monday. The business’s 50-day simple moving average is $36.00. Union Bankshares has a 1-year low of $26.48 and a 1-year high of $42.64.

Union Bankshares (NYSE:AUB) last posted its earnings results on Thursday, July 18th. The company reported $0.70 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. The business had revenue of $169.17 million for the quarter, compared to the consensus estimate of $169.26 million.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.85%.

Several institutional investors have recently modified their holdings of the company. Capital Investment Advisory Services LLC bought a new stake in shares of Union Bankshares in the second quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Union Bankshares in the second quarter valued at about $27,000. Panagora Asset Management Inc. bought a new stake in shares of Union Bankshares in the second quarter valued at about $32,000. Signaturefd LLC bought a new stake in shares of Union Bankshares in the second quarter valued at about $47,000. Finally, FTB Advisors Inc. bought a new stake in shares of Union Bankshares in the second quarter valued at about $54,000.

Union Bankshares Company Profile

Atlantic Union Bankshares Corporation operates as the holding company for Atlantic Union Bank that provides banking and related financial services to consumers and businesses. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

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